US Donald Trump has revealed the only condition that would allow him lift his willingness to place a ban on social media application, TikTok in the country.

Trump disclosed that he would allow an American company to buy the social media app, TikTok with a condition that the United States gets a sizeable cut from any deal that takes place.

This is coming barely 24 hours after Microsoft released a statement on Sunday August 3, revealing they intend buying TikTok from Bytedance, a Chinese company that owns Tiktok.

Recall that the US president announced last week that TikTok will be banned from the United States after lawmakers and intelligence agencies expressed concerns that the Chinese government could use the app to spy on Americans.

After Microsoft announced it was considering buying the app, Trump on Monday August 3, said any potential sale must benefit the US Treasury.

He then set September 15 as the deadline for TikTok to find a US buyer, or else he will shut down the app in the country.

“Right now they don’t have any rights unless we give it to them. So if we’re going to give them the rights, then … it has to come into this country,” Trump said on Monday.

“It’s a great asset, but it’s not a great asset in the United States unless they have approval in the United States.”

TikTok, in defence says they will become an extinct company and that it remains committed to its large American user base.

“TikTok is loved by 100 million Americans because it is a home for entertainment, self-expression, and connection,” company spokesperson Josh Gartner said in a statement.

“TikTok will be here for many years to come.”